Hedge funds slash bullish wagers on gold before war jitters
Money managers’ bullish wagers on gold fell to the lowest in nearly four months before a flare-up in the Russia-Ukraine war boosted its haven appeal.
Hedge funds and other large speculators reduced net-long positions by 3.6% to 190,324 contracts as of Nov. 19, the lowest in 15 weeks, weekly US government data showed on Friday.
The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.
(By Yvonne Yue Li)
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Comments
carl johnson
Great article! It’s interesting to see how hedge funds are changing their gold positions with rising geopolitical tensions. Gold’s safe-haven appeal is clearly coming back. It will be interesting to see how it performs in the coming weeks with all the current tensions.